Macroeconomy/Finance

Fernández shrank fiscal deficit 2020 to ARG$65 billion

Argentine government reduced the fiscal deficit by about ARG$ 67 billion ($1.12 billion) through a reallocation of budget items that allows a decrease in capital expenditures. The Argentine Budget Association (ASAP) estimated that the current revenues of the National Public Administration decreased by ARG$1.2 billion, as Fabricaciones Militares (Army Factories) were transformed into a state society, and at the same time consumption expenses were reduced by ARG$1.77 billion.

Source: BAE Negocios